I Turned a $55K Townhouse Into Financial Freedom w/BiggerPockets CEO

Episode #1343 Get Your Free Rental Property Portfolio Checkup, with Mynd: https://www.mynd.co/bp/portfolio-chec... 16 years ago, Eric Augustyn had the same fear that keeps many of us up at night: What if I get fired? He had just survived the 2008 financial crash, and while lucky to have a job, Eric was nowhere near financial freedom. This reliance on his W-2 created a fire that pushed him to buy the one asset everyone was warning him about— rental properties. He found one of the cheapest rentals he could buy, and spent nights and weekends fixing it up to eke out a small profit. And guess what? It worked. After repeating the system for more than a decade, Eric now has a rental property portfolio that has given him true financial freedom, built on the pillars of cash flow, community, and continuous improvement. That made him the perfect choice as BiggerPockets’ new CEO, with the sole mission of helping you reach financial freedom through real estate (and have an easier time than he did). Today, we get the story on Eric’s first rental and his current portfolio, why he does not self-manage his rentals, investing over 2,000 miles away, and what’s coming down the BiggerPockets pipeline that will make buying your first, or next, rental property easier. Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?... Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcast... Grab the Investing Classic, Rich Dad Poor Dad : https://store.biggerpockets.com/produ... Sign Up for the Investor Brief Newsletter: https://www.biggerpockets.com/email-s... Property Manager Finder: https://biggerpockets.com/findapm BiggerPockets Appoints Active Real Estate Investor Eric Augustyn as CEO, Ushering in a New Era of Platform Innovation: https://www.biggerpockets.com/blog/bi... Connect with Eric: https://www.biggerpockets.com/users/e... Connect with Dave: https://www.biggerpockets.com/users/d... 00:00 Intro 01:52 Your W-2 Isn’t Enough 05:26 A Cheap, DIY First Rental ($55K) 08:46 This Changed Everything 12:30 Sponsor: Mynd! 12:58 Investing 2,000+ Miles Away 17:34 Hire These Property Managers 20:18 Eric’s Current Portfolio 21:18 Stop Fearing You’ll Get Fired 24:16 Finding BiggerPockets 27:59 Becoming BiggerPockets’ CEO 31:11 Big Changes Coming 40:14 What Eric Really Thinks